If India decides to increase its contribution, it will help the World Bank meet its developmental finance needs, a statement from the Indian government said, citing World Bank President Robert Zoellick.
Mr. Zoellick is on a four-day trip to India and the statement follows his meeting with Finance Minister Pranab Mukherjee.
The World Bank is also in talks with several other developing nations, such as Brazil and China, to boost its capital.
These economies have escaped relatively unhurt from the global financial crisis, with brisk economic growth returning to China and India.
India's economy expanded 7.9% in July-September--a faster pace than expected--helped by the government's stimulus measures.
"I was very delighted to see the very strong quarter growth," Mr. Zoellick told reporters after the meeting with the finance minister.
India's government is spending heavily to keep more cash in the hands of its rural population, which constitutes nearly 65% of the country's people, and largely represents the strong consumer base that is lapping up new mobile phones and motorcycles.
Many of the South Asian country's development projects, which aim to boost rural infrastructure, are funded by the World Bank. India is the multilateral lender's largest borrower.
"The prime purpose of the visit is to ensure how we (the World Bank) can deploy our resources most efficiently," Mr. Zoellick told reporters.
The World Bank expects its current commitments to India to rise to $7.0 billion in 2009, from the past four year's annual average of $2.3 billion.
Its portfolio for the country consists of 68 projects with a total commitment of $19.57 billion.
The bank plans to offer between $5 billion and $6 billion over the next three years as interest-free loans and grants to India, Mr. Zoellick said.
The International Bank for Reconstruction and Development, an arm of the World Bank, plans to lend $18 billion over three years to India, while International Finance Corp.--the private equity arm of the multilateral lender--plans to lend $3.5 billion over same period, Mr. Zoellick added.
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